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Article: Ikea sells Shah Alam warehouse for RM90m
- Article from:
- New Straits Times
- Article date:
- September 10, 2009
- Author:
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Vasantha Ganesan
New Straits Times
09-10-2009
Ikea sells Shah Alam warehouse for RM90m
Byline: Vasantha Ganesan
Edition: Main/Lifestyle
Section: Business Times
Type: Company
SWEDISH home furnishing giant Ikea has sold its warehouse in Shah Alam, Selangor, to a Malaysian property fund for about RM90 million.
The 560,000-sq-ft warehouse, which is located on a piece of land measuring 8.51ha, was sold as part of the furnishing company's plan to relocate its distribution network to China.
China is now the hub for Asia Pacific. Ikea moved out of Shah Alam about two months ago.
The sale of the warehouse, owned by Ikea Handel Sdn Bhd, in Section 26 Shah Alam, was handled by Jones Lang Wootton (JLW).
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